A panel of former State Department, National Security Council, National Intelligence Council and other officeholders expressed concern about the future of the U.S.’ relationships at CERAWeek by S&P Global.
As good as the Trump administration’s “drill, baby, drill” may initially sound, global oil production will slow if the price sinks below $60/bbl.
Oil could range from sub-$50 to $75, depending on how tariffs shake out.
In an uncertain macro environment, caution is necessary in deploying capital, says Marc Graham, managing director and head of energy at Texas Capital Bank.
Stratas Advisors predict that the growth in non-OPEC supply will be muted by the uncertainty of low oil prices, including supply associated with U.S. shale producers, which are facing financial and operational pressures because of lower oil prices.
Stratas Advisors expect that oil prices will trend upward, in part, because the Trump Administration recently announced exemptions to tariffs for some electronic goods from China.
Sanctions, tariffs and production strategies are buffeting crude markets as wild cards like tariffs and geopolitical conflicts make headlines.
U.S. futures rose by a dollar and then turned negative over the course of Trump's press conference on April 2 in which he announced tariffs on trading partners including the European Union, China and South Korea.
For the upcoming week, Stratas Advisors predict that the price of Brent crude will move sideways and struggle amid concerns and uncertainties about the impact of the tariffs imposed by the Trump Administration.
Ukrainian peace talks could end with Russian gas back on the market, Poten & Partners analysts said.